Salesforce Raises Full-Year Guidance, Sending Shares Higher

Salesforce (CRM) - Get Report shares surged in after-hours trading after raising its full-year outlook on Wednesday. The cloud giant now expects revenue of $8.16 billion to $8.20 billion for the year, compared to a previously reported range of $8.08 billion to $8.12 billion. As for its most recent quarter, diluted earnings came in at $0.24 a share, beating estimates of $0.23 a share. Revenue stood at $1.92 billion, a 28 percent year-over-year increase, and ahead of the $1.89 billion analysts were looking for. Subscription and support revenue stood at roughly $1.8 billion, while professional services sales were $141 million - both segments increased compared to the same quarter last year. TheStreet's Scott Gamm reports from Wall Street.